Interest payble on Non fullfillment of Export obligation under Advance Authorisation Scheme to custom

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..... Interest payble on Non fullfillment of Export obligation under Advance Authorisation Scheme to custom
Query (Issue) Started By: - Anant Soni Dated:- 19-6-2015 Last Reply Date:- 22-6-2015 Customs - .....

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..... Exim - SEZ
Got 3 Replies
Customs
We have clear the material under Advance License scheme before discharging the export obligation. Due to Non full fillment of export obligation we required t .....

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..... o pay the custom duty along with interest to the custom. we want to know the rate of interest payble to custom along with the notification under which we make the payment Reply By MUKUND THAKKAR: Th .....

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..... e Reply: Sir, please refer BG/Bond which you had submitted with the custom during the time of clearance of goods. you will get it all details. Reply By Anant Soni: The Reply: we have submitted the .....

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..... bond for interest @ 15% where as custom charged the interest @ 18% as delayed payment of custom duty Reply By MANOHARAN ARUMUGAM: The Reply: What you had mentioned in the Bond is wrong. Normally, .....

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..... where duty waiver/concession is availed under Notification and subsequently the duty becomes payable either one reason or other, interest on the delayed payment of duty works out @ 18% Hence, the dema .....

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..... nd by Customs is correct.
Discussion Forum - Knowledge Sharing .....

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